The massive merger between Fiat Chrysler Automobiles and French group PSA removed one of their final regulatory hurdles in late December and the final transaction will take place tomorrow, January 4, 2020. But that’s only if Frank B. Rhodes, Jr., great-grandson of Walter P. Chrysler, does not say his.
December 24, 2020, Rhodes filed a last-minute complaint, suggesting some changes to the merger plan. And for the sound of things, he’s not happy, well, anything.
“This alternative proposal is, in my view, superior to the planned merger and would result in the return to the United States of the Chrysler-Dodge-Jeep-Ram brands and outside the Chinese and foreign control proposal, as proposed in concentration “. Rhodes said in a Press release.
One of Rhodes’ main complaints is the name Stellantis, which is the title the merged group will adopt. Instead, he wants to be called “Chrysler-Dodge-Jeep-Ram Corporation ”, which definitely does not take into account the purpose of the merger.
In addition, Rhodes has proposed that Stellantis maintain its European headquarters in London, but move its main functions to the United States. This would allow management and existing employees to remain. He really he doesn’t want this americana brand to become something more global.
G / O Media may receive a commission
He has filed a complaint with both the Stellantis manager and U.S. senators to remind them that this will not be good for the United States.
At this point in the business, we are not likely to see massive revisions of the proposed merger, especially those that threaten the integrity of both brands.